Mixed-Use Building with Roof
For Sale
$4,000,000
495 Lorimer St, Brooklyn, NY 11211
Two residential units sit above a sandwich counter and coffee shop in Williamsburg.
Property Size5,740 SF
Days on Market44
Property Features for 495 Lorimer St
General Information
Standard status
Active
Size
5,740 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$8,748
Building Details
Building Size
5,740 SF
Year Built
1920
Stories
3
Units
2
Listed By:
Stefania Rovera
(718) 360-8686
Source:
Elliman
Added: Jul 21
Changed: Aug 29
Last Checked: Sep 1 at 10:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Stefania Rovera
Investment Insights
Based on property information with market context.
This mixed-use building, constructed in 1920, combines two residential apartments with two ground-level commercial spaces. The second-floor residence has 2 bedrooms, two living areas, an eat-in kitchen, updated bathroom, storage, and a private roof deck. The top-floor apartment offers 3 bedrooms, an open layout, and generously proportioned rooms.
Commercial improvements include a sandwich counter with ventilation, an Ansul system, walk-in refrigerator, and extensive equipment. The separate coffee shop provides a sizable customer area and a dedicated basement for storage and operations. The property is located at 495 Lorimer St in Brooklyn’s Williamsburg neighborhood, two blocks from the Lorimer L train. WalkScore is 98, BikeScore is 90, and TransitScore is 100.
Commercial improvements include a sandwich counter with ventilation, an Ansul system, walk-in refrigerator, and extensive equipment. The separate coffee shop provides a sizable customer area and a dedicated basement for storage and operations. The property is located at 495 Lorimer St in Brooklyn’s Williamsburg neighborhood, two blocks from the Lorimer L train. WalkScore is 98, BikeScore is 90, and TransitScore is 100.
Key Highlights
- Two residential apartments above two commercial spaces
- Second‑floor 2‑bedroom apartment with private roof deck and two living areas
- Top‑floor 3‑bedroom apartment with open layout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$332,690
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,653,800
$6.7M
Cap Rate 7%
$4,752,714
$4.8M
Cap Rate 9%
$3,696,556
$3.7M
Market Conditions
NOI Build-Up for 5,740 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$482.2K $84.00/SF
− Vacancy
−$38.6K −$6.72/SF
EGI
$443.6K $77.28/SF
− OpEx
−$110.9K −$19.32/SF
NOI
$332.7K $57.96/SF
Area
Brooklyn, NY
Vacancy
8.00%
Lease Rate
$84.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,653,800
Cap Rate 7%
$4,752,714
Cap Rate 9%
$3,696,556
Alternative Uses
Best Use
Specialty Retail
$4.75M
$4.16M – $5.54M
NOI $332,690 @ 7.0% cap · market cap 8.32%
Second Best
Mixed Use
$2.98M
$2.60M – $3.47M
NOI $208,362 @ 7.0% cap · market cap 5.21%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,536
Businesses Nearby
Explore this area
Business Placement
Demographics for 11211, NY
68,540
Population
29,068
Households
2.4
Avg Household Size
31
Median Age
55%
College-Educated
86%
High-School Grad
1.5 sq mi
ZIP Area
45,693
Density / Sq Mi
$105,183
Median Household Income
$67,533
Median Earnings
$2,357
Median Rent
$1,118,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two residential units sit above a sandwich counter and coffee shop in Williamsburg.
Where is this mixed-use property located?
The property is located at 495 Lorimer St Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Two residential apartments above two commercial spaces; Second‑floor 2‑bedroom apartment with private roof deck and two living areas; Top‑floor 3‑bedroom apartment with open layout
